CESTAT Rules Leasing of ISO Tank Containers from Overseas Suppliers as Deemed Sale, Not Taxable Service

The CESTAT has ruled that the "leasing of ISO tank containers from overseas suppliers" is a "deemed sale," not a "taxable service." The tribunal's decision, which is a significant victory for the taxpayer, was made on the grounds that the company's claim was not supported by evidence. The ruling clarifies that a tax authority can't add a tax to a company's account without a valid reason.